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Amazon Downgrades Investment in LivingSocial

Date:
February 4, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
LivingSocial was once among the toast of the startup world, shooting revenue past $500 million and stirring up talk of an IPO with a $15 billion market cap. Now, however, Amazon is downgrading its investment in almost a third of the daily deals site to zero. And the company, currently without a CEO, is cutting failed business lines as it tries to right-size itself after a big divestiture. Video provided by TheStreet
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